Mike Norman Economics

There are 'no realistic scenarios' to make the economic growth demanded by capitalism compatible with a safe climate, researchers who advised the United Nations found. Industry and society are becoming more efficient, but instead of using less, this efficiency is making it easier to use more.Can we be happy with less? In the Scandinavian countries people are not so rich, but they tend to be happier places to live. The difference between the top wages and the lowest in Scandinavian...

Pavlina Tcherneva, a Bard professor and one of the economists pioneering research into Modern Monetary Theory, said federally guaranteed jobs may address poverty and help communities better than universal basic incomes. The coronavirus pandemic wiped out millions of jobs, and one report estimated that 17.6 million unemployed Americans may not return to their pre-pandemic jobs. Tcherneva said guaranteeing a public service job could lead to improvements on community-wide issues like public...

ROFLMAO. And crying, too.Patrick Armstrong nails it. Of course, the retort is that I am a either stupid (deluded) or a "Putin-bot." There is no Russian Playbook, that’s just projection. But there is a “playbook” and it’s written in English, it’s freely available and it’s inexpensive enough that every pundit can have a personal copy: it’s named “From Dictatorship To Democracy: A Conceptual Framework for Liberation” and it’s written by Gene Sharp (1928-2018). Whatever Sharp may have thought he...

Thought-provoker.The Vineyard of the SakerClash of civilizations, revisitedPepe Escobar

India's confirmed coronavirus infections have surpassed one million cases. The country crossed that threshold on Friday after registering nearly 35,000 new cases — its biggest spike so far in a 24-hour period. India Surpasses 1 Million Confirmed Coronavirus CasesDr Tom Frieden Every 15 minutes, 1,000 people are infected by Covid in the US and 5 people die from it. We have to get the virus under control—and fast..

Last year Mark Blyth said that MMT can only work for the US because it held the reserve currency, and he even then it might negatively effect other economies, he added. But recently he has become a staunch advocate for MMT, so you wonder that if he can change his mind, then what about all the other economists who criticise MMT?Stephanie Kelton believes conservatives may favour the Job Guarantee more when they find out that it will be local government that will manage the system. When you...

If there are two big economics ideas that have fired up the popular imagination during the Covid-19 epidemic they are the universal basic income and modern monetary theory. And with the primary criticism of the first being the cost, the second - which claims countries with their own currency can never run out of money - would seem to provide the answer. But the Australian economist who coined the term MMT, Bill Mitchell, isn’t a fan of the UBI - a proposal he dismisses as an unnecessary...

Positive mini-review of The Deficit Myth.The Guardian (UK) — LettersIn search of a new economics for Covid-19 era John Marsh | Lecturer in economics, Nottingham Trent University

When you do a lot of politics you sometimes see both points of view. It is also possible for both sides to be right at the same time: taxes are unfair vs taxes help create a more fair and equitable society. Of course, this argument needs more careful nuance and thought.The Guardian will put out conspiracy theories, like Russiagate, but then will sometimes put out the opposite of what I would expect. The Daily Mail once run a story on the Clinton Body Count and didn't dismiss it, giving quite...

Where are all the money printers screaming about money "un-printing?" The whole thing is laughably ignorant.